Global Low Voltage Circuit Breaker Market to Grow at a CAGR of 3.2% During 2024-2032, Aided by the Rising Demand for Low Voltage Circuit Breaker from Major End Use Sectors

The rising demand for low voltage circuit breaker in the major end use sectors including residential and commercial is likely to drive the market growth. This can be attributed to the rapid development of residential and commercial infrastructure like complexes, shopping malls, and theatres, among others. The growing demand for electricity and the need to protect electrical circuits from overload are anticipated to boost the market growth.

The increasing investments by the leading market players to launch improved products are expected to aid the market growth over the forecast period. For instance, in February 2019, Schneider Electric (EPA: SU) announced the launch of the next generation high-power low voltage circuit breakers known as Masterpact MTZ, which was assembled in India. Furthermore, in February 2020, Eaton Corporation PLC (NYSE: ETN) announced the signing of an agreement with Abunayyan Holding. Under the agreement, both the companies will establish a joint venture to produce and service low and medium voltage switchgear in the Middle East. Circuit breakers are the most common component found in switchgear.

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In terms of region, the Asia Pacific is likely to account for a significant share of the market and is anticipated to witness a considerable growth in the forecast period. The growing consumption of electricity in emerging nations like India and China, owing to the rising population and rapid urbanisation, is likely to propel the demand for the product in the forecast period.

Market Breakup by Type, Application, End User, and Region:

• The market is segmented based on type into miniature circuit breaker (MCB), moulded case circuit breaker (MCCB), and air circuit breaker, among others.

• Based on application, the market is divided into energy allocation, and shut-off circuit, among others.

• The major end users of low voltage circuit breaker include residential, and commercial, among others.

• Region-wise, the global market for low voltage circuit breaker can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for low voltage circuit breaker is being driven by the rising application of the product in major end use sectors such as domestic, industrial, and commercial.

• The growing consumption of electricity in emerging economies owing to the rapid economic growth as well as infrastructure development is anticipated to boost the market growth.

• In addition to this, the increasing investments by the manufacturers to develop improved product range to deliver better performance are likely to augment the market growth in the forecast period.

• The market is further expected to be aided by the increasing focus on the protection of electrical circuits with reliable and safe products.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for low voltage circuit breaker for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the types, applications, end users, and major regions of low voltage circuit breaker.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global low voltage circuit breaker market are ABB Ltd., Schneider Electric Company, Siemens AG, Eaton Corporation, and Panasonic Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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